United Natural Foods (UNFI) Said to Face Increased Competition, Loses New Seasons - Cleveland

Cleveland Research maintained a Neutral rating on United Natural Foods (NASDAQ: UNFI). Analyst Scott Bender noted the company lost the New Seasons account -- $100 million in annual business-- to KeHE, according to Bloomberg. Bender sees more risk in FY16 than upside potential due to customer loss and gross margin pressure from efforts to protect share. He also noted KeHE is bidding aggressively to win new business, and it's seen as a stronger competitor going forward.

For an analyst ratings summary and ratings history on United Natural Foods click here. For more ratings news on United Natural Foods click here.

Shares of United Natural Foods closed at $50.84 yesterday.

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